Lets take a step back and look at the longer term picture of the Litecoin vs US Dollar market.
We can see that Litecoin has had about a 50% correction from $400 down to the $200 zone where buyers started stepping in, pushing the prices to $240 at the time of writing this report.
We are still under pressure from the bears but the bulls have pushed the market a bit since the 1st of Jan and we can see momentum is starting to change.
I will wait to see what prices the day candle will close at today, should we close below my MA, or below $240, I expect we might test $200 again before testing resistance.
Should we close above $240 today I am quite bullish on the LTC market and will consider going long in the near future.
Litecoin is still a great long term hold in my opinion and should we stay above $200 I am sure we will see some more good gains in the future. Safe trades.